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Retailer optimization using market segmentation top quintile process

a top quintile process and optimization technology, applied in the field of lottery services, can solve the problems of less profit per retailer location and more overhead

Active Publication Date: 2007-05-17
SCI GAMES LLC
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  • Summary
  • Abstract
  • Description
  • Claims
  • Application Information

AI Technical Summary

Benefits of technology

The patent describes a method for determining the optimal number of retailers in a specific area. The method involves collecting demographical data for different regions, segmenting the data into subgroups, and identifying the top percentage of regions based on their population information. The method then calculates the average sales figure and retailer density count for the top percentage of regions to determine the optimal number of retailers needed for the area. The technical effect of this patent is to provide a more efficient way to determine the optimal number of retailers needed for a specific area, which can help improve the overall performance and profitability of the retail industry.

Problems solved by technology

As a result, it is common to see several lottery retailers in close proximity in a busy commercial location and very few retailers in residential areas.
This phenomenon leads to the situation of less profit per retailer location and more overhead for the lottery authority when it has to deal with too many franchisees.

Method used

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  • Retailer optimization using market segmentation top quintile process
  • Retailer optimization using market segmentation top quintile process
  • Retailer optimization using market segmentation top quintile process

Examples

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Embodiment Construction

[0012] Briefly described the invention is a method for determining an optimal number of lottery sales retailers per a geographical area. The geographical area can be defined in many different ways and readily available way to define different geographical areas is based on the commonly used ZIP code. Those skilled in the art will readily appreciate that other geographical classification and definitions can also be used. The optimal number of lottery retailers for a region can be determined based on the following assumptions: [0013] I. Households of the same segmentations purchase lottery products similarly. [0014] II. There is a strong correlation between lottery agent density (population / retailers) and per capita lottery sales. [0015] III. Identify the lottery agent density (LAD) necessary to produce high per capita sales. [0016] IV. Apply this optimal LAD to all markets of that household segmentation.

[0017] The average LAD for the top quintile (20%) of the regions in the U.S. def...

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Abstract

A method for determining an optimal number of lottery retailers is disclosed. The optimal number of lottery retailers for a region can be determined based households of the same segmentations purchasing lottery products similarly, and there is a strong correlation between lottery agent density (population / retailers) and per capita lottery sales. The lottery agent density (LAD) necessary to produce high per capita sales can be identified and applied to all markets of that household segmentation.

Description

CROSS-REFERENCE TO RELATED APPLICATION [0001] This application claims the priority to the U.S. Provisional Patent Application No. 60 / 737,793, “Retailer Optimization Using Market segmentation Top Quintile Process,” filed on Nov. 17, 2005, the specification of which is incorporated in its entirety herein by this reference.BACKGROUND OF THE INVENTION [0002] 1. Field of The Invention [0003] The present invention relates to the sales of lottery services and more specifically to a method for determining an optimal number of lottery sales locations. [0004] 2. Description of Related Art [0005] Lottery retailers are established with a business requesting a franchise from a lottery authority. Generally, the lottery authority is quite concerned with the honesty of the merchant who is applying for the franchise than the feasibility of the proposed location. As a result, it is common to see several lottery retailers in close proximity in a busy commercial location and very few retailers in resid...

Claims

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Application Information

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Patent Type & Authority Applications(United States)
IPC IPC(8): G06F17/30
CPCG06Q30/02G06Q30/0205
Inventor HURT, JOHNFLINN, MICHAEL DAXO'BRIEN, JIM
Owner SCI GAMES LLC
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